Help with refusal of PPI

[Larain]

Hi I would be grateful for any advice.

 

I took out a secured loan with First Plus in 1999.

 

It finished this year and

 

I realized we were paying PPI.

 

When I think back (not easy when your 60) we were told no deal unless we had PPI.

 

I contacted First Plus to claim and

 

today received a letter telling me that it had been sold by Freedom Finance

and they were not trading anymore

and therefor unable to review the sale of payment protection insurance policy.

 

This being the case they are unable to forward my complaint.

 

They also said that due to the time I purchased the policy

I have no recourse to the FSCS scheme.

 

Is that the end of the matter?

 

I'm not financially literate by any means

so would be grateful for a simple answer of

should I forget it all or is there anything I should be doing?

Thank you in advance

Larain.

[rebel11]

Hi Larain

 

Welcome to CAG

 

Nothing wrong with being 60, congratulation it's actually 45. I don't think you should give up. The guys will advise as soon as they are available.

[Larain]

Thank you Rebel.

[rebel11]

Hi Larain

 

Here's someone's experience.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?338398-Freedom-Finance-amp-Firstplus-who-do-I-claim-PPI-misselling-against/page2

 

Thank you Rebel.

[rebel11]

Hi Larain

 

Freedom Finance were part of Wilmslow Financial Services, who have gone into administration.

 

http://www.realbusinessrecovery.co.uk/news/administration-2/ppi-broker-wilmslow-financial-services-falls-into-administration/

 

http://www.financial-ombudsman.org.uk/news/pdf/PPI-FSA-smallfirms-July11.pdf

 

It might be an idea to lodge complaints with the FOS and FSCS.